Matt Losquadro, a core contributor to Synthetix, stated that Synthetix's upcoming new application chain SNAXchain aims to bring cross chain liquidity and transaction fee income to native token stakers and on chain trading products. The application chain will initially serve as an on chain governance platform for managing Synthetix deployments on the Ethereum mainnet and Layer2 extension chains, including Optimisim, Arbitrarum, and Base. At present, Synthetix is actively exploring future features of SNAXchain, including SNX staking, cross chain liquidity, and support for customized perps products. It is expected that more proposals regarding these features will emerge in the fourth quarter. @ftihvb @drinkbeerkillwar.eth

Exciting developments ahead for Synthetix with SNAXchain! Looking forward to seeing how it enhances cross chain liquidity and on-chain governance. 🚀

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